CLEPA tired of Lofalk

It looks like not only SWAN and Saab are very critical about Guy Lofalk’s role in the reconstruction. Sverigesradio.se have spoken to Lars Holmqvist, the CEO of CLEPA. He is very critical on how Lofalk has acted during the process.

– What I hear from Victor Muller, what reads in the newspapers and what is from our industry, he has (Lofalk) acted like he either had assumed that he was the owner of the company or that he was the liquidator of the company, and none of it’s the case. That in his role as administrator to act on their own and thereby interfere with sensitive business solutions, it only shows that he has misunderstood his role and he does not have a clue how to handle these things in our industry, says Lars Holmqvist to P4 West.

When asked why Lowfalk acts this way, Holmqvist admits that he has no idea.

– I have wondered many times over himself. I’ve just noticed his slightly strange way to work and how it interferes with the negotiations. He claims to have Saab’s management with them, I can say that it is not the perception I have said Holmqvist.

I have not been a fan of Lofalk before, hearing this from someone else than Victor or Hans Hugenholtz is an indication that there are some serious issues that are better solved soon. If nessesary, I’d advocate to replace him with someone who knows how to act in such difficult times.

Honestly, I don’t get why Lofalk is stating in public that he thinks the time is over while negotiations are still ongoing and GM hasn’t even decided yet. He may think that way and state it behind closed doors but right now saying it in public only damages the company and the process even more.

My feel is that he has been on his own crusade must of the time, for whatever reason. I don’t believe in conspiracies but sometimes it looks like he just wants to push to a solution that excludes Victor, no matter what it takes rather than looking for the best solution for Saab. Get me right, I don’t blame him for the situation Saab is in, I just want him to do his job and focus on finding a viable solution for the sake of Saab and it’s employees, dealers and suppliers. And after all, for us, too.

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For all stakeholders, employees, creditors, dealers, customers, etc, Lofalk should do the ethical thing and step aside. If he is not helping “Reconstruct” Saab,(it looks like he is “destructing” Saab) he is outside his given agenda. Go Guy Go- Away Now.

I agree with Mr. Holmqvist; I find some of GL’s alleged actions quite odd, to say the least. He is an administrator in a reconstruction, nothing else; he could very well have worked closely with the owners, always with the debtors’ interest in mind, that wouldn’t be a conflicting interest of great proportions, doing everything he could to assist a solution. Creating completely new solutions, in stark contrast with what is already going on, is bizarre. What was that with Geely, why in the name of the lord was they called to a meeting in Sweden; and then the other… Read more »

Now SAAB needs to get that money before tomorrow or else it´s to late. Yes there are maybe negotiations ongoing , but are they moving forward. Nothing has really come out that points in that direction. Lofalks assignment includes to stop the reorganisations if there aint enough money to go on. And that situation was more than a week ago. I relly hope that something will be announced this evening that can bring some hope to this situation , but I am really doubtful.

A promising Sunday has turned out in another everybody discuses with everyone about everything. There was a plan, and to my eyes only one major hurdle, namely GM. Now everyone tries tu pull the rope in its own direction. It is tragic because the lifeline for Saab is coming to an end, and without a MoU, deal or discussion frame next week this time Saab will be history or almost history. I don’t care who is right, and who is wrong, but it would be nice if people would either say what they think they want to do with Saab… Read more »

– The 1st question is : what GM do think about the new proposal, after having studied it of course? – And then only : how to achieve a full legal agreement between Swan, Saab, Youngman and “the chinese bank” with collateral approvals (GM NDRC NDO BEI).

But what he or she or it thinks about anyone, we do not really care. Plus it will never make things move forward at all.

“But what he or she or it thinks about anyone, we do not really care. Plus it will never make things move forward at all.”

Don’t agree. It is very important to see GL’s actions in perspective. And if his wrongdoing is publicly recognized, it will promote his possible recall and replacement and thus prevent him from doing further harm. At least, if it’s possible to replace the admin., according to the law.

If you read and consider the reports and official comments of the past few days you can only come up with one honest conclusion – there is no new plan. If there was, public company SWAN would be compelled to communicate that. The place it was initially reported was here – and that was alongside the “confirmed” information about The Bank Of China. Saab’s own release suggest no such thing. I’m not suggesting an intentional effort by SU to spread bad info, but somehow they did. How would be conjecture, and I’m not going there. But the simple fact remains… Read more »

Thank you for posting that aop. Did you read it? It underscores exactly what I said. From the article: “For the moment, what Victor Muller is doing is negotiate with [manufacturer] Youngman and Chinese investors.” …and I totally believe that. VM is trying to come up with a negotiated deal between Youngman and an unnamed investor. When and if he does, then he will have a plan to submit to GM. I salute VM’s efforts with you – that man has energy. If you wish to believe writing that is unable to cite actual sources, but instead must say the… Read more »

I read it of course, continuing negotiations doesn(t mean a plan has not been submitted in my opinion. But as you could imagine, this plan is probably not a two pages document and it should be improved and addapted as they go. For now, GM’s approval is required for the plan to go forward. As far as the plan not being made public, it really doesn’t surprise me. Do you read often the details of a merger&aquisition deal before the deal actually gets approved by relevant parties?

Agreed, details before a deal is done would not usually be released. But, via this site and some intentionally leaky source, that is what we got. And it turned out some of those details were wrong. Various versions of an almost deal have been floated for months. With unnamed sources, unnamed banks, and conflicting statements out of China, will this be different? Perhaps we can agree on this aop – however near or distant it may be – we both hope that a Saab deal can be created that provides Saab with real ongoing economic support, and can also be… Read more »

I see it like this: the press release was a response to the rumours; and in similar cases they have always stated that there are ongoing negotiations, to write something else in this case would mean a deal or end of talks. There could very well be a plan submitted, as mentioned by aop, and still matters to discuss for the involved parties that isn’t of GM’s business.

No. They are expressions of general idea that VM is a fraud, that the SU-crew are Sycofants and peole in her need enlightenment The basis of that is different in the personas But some of them has been here under other names before

Finally, an observation from a third party’s perspective. I hate to repeat myself so many times, but many people just fail to get this right: The administrator’s main focus should be to turn the straitened business into a viable one. Second: The ADMINISTRATOR and the OWNER must cooperate and work TOGETHER on a solution! Third, Owner(s) rights to their property (IE. the company itself) do stay while in reconstruction. The only thing is that every action the owner(s) make, should have the consent of the administrator. I guess, when Mr Holmqvist says that GL is confused about and has misunderstood… Read more »

Are you a Swedish lawyer? Because if you are not, then I don’t think you have any business telling the rest of us what a Swedish administrator’s duties are. I am an American lawyer and I have some idea of what a trustee’s duties are in the US and a trustee here is not obligated to straighten out a business when there is no financing for the business. With proper financing in place, yes. With inadequate financing. No. If Sweden is different, then I suggest getting a Swedish lawyer on this board to help us clarify the matter.

It doesn’t matter much if he is or not; we have seen quite a lot of comments from the US, saying this or that, and they didn’t hesitate to comment on the matter, even though they don’t know the applicable Swedish law. You have commented on the matter earlier, davidgmills, quite vigorously; you say you are lawyer, and have said so earlier. Let me use your question: Are you a Swedish lawyer? Because if you are not, then I don’t think you have any business telling the rest of us what a Swedish administrator’s duties are. It’s true that funds… Read more »

I am not Swedish, nor a lawyer, nevertheless, it’s nothing to do with me but rather with the Swedish Reorganization Law. I cited my message from a legal publication, a book describing the European Reorganization Laws. The passage I cited was in the section of the Swedish Reorganization Law.

To find out more about the source: Anders Holmgren,The Swedish Reorganization Law Corporate Rescue, (C) 2004 Kluwer Law International

@davigmills: If I was a lawyer, (I am an IT professional/manager instead) I possibly wouldn’t know a crumb about the Swe Reorg Law myself, just as my lawyer friends don’t. Here in Hungary we don’t have such a law. BUT please don’t tell me not to tell something that I have the source to, nor do assume I am talking without checking my facts first.

“in the US and a trustee here is not obligated to straighten out a business when there is no financing for the business. With proper financing in place, yes. With inadequate financing. No. In accordance with the Swedish Reorganization law, it is the court who first judges whether the business can be made viable or not. If it assess it viable, then the court grants the right to move into reorganization (exactly this happened to Saab previously) and the administrator enters the scene who then has to exploit the means of making the business profitable. On the other hand, what… Read more »

The situation wit Guy Lofalk at the moment is quite unfortunate and ongoing discussions about a future with or without victor muller are rather misleading. I just remember the beginning of this year with the presentation of the 9-3 concept phoenix, the marvellous presentation and collaboration between Castriota and Muller, the reorientation/-definition of SAAB and the great image it generated. All this was awesome! The dutch impact on the swedish brand was simply “scandinavic”!! Muller not only as owner but as “refresher” and communicator created great public feedback – letting everyone know Muller / Castriota, that’s the new way !… Read more »

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